Tenaris S.A. (NYSE:TS) Stock Holdings Trimmed by Ethic Inc.

Ethic Inc. decreased its holdings in Tenaris S.A. (NYSE:TS) by 18.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 120,390 shares of the industrial products company’s stock after selling 27,133 shares during the quarter. Ethic Inc.’s holdings in Tenaris were worth $4,550,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. GAMMA Investing LLC lifted its position in Tenaris by 140.2% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 548 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Tenaris by 78.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock worth $41,000 after buying an additional 478 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Tenaris in the fourth quarter valued at $42,000. Smartleaf Asset Management LLC boosted its stake in Tenaris by 291.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company’s stock valued at $65,000 after buying an additional 1,284 shares in the last quarter. Finally, Covestor Ltd grew its holdings in Tenaris by 37.2% during the fourth quarter. Covestor Ltd now owns 1,729 shares of the industrial products company’s stock worth $65,000 after acquiring an additional 469 shares during the period. 10.45% of the stock is owned by institutional investors and hedge funds.

Tenaris Stock Performance

Tenaris stock opened at $34.06 on Friday. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.87. The firm has a market capitalization of $19.80 billion, a price-to-earnings ratio of 9.43 and a beta of 1.27. The company has a 50 day moving average price of $35.32 and a 200 day moving average price of $36.76.

Tenaris (NYSE:TS) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.80 by $0.14. The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. Tenaris’s revenue was down 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.27 earnings per share. Equities analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be issued a $0.56 dividend. This is an increase from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date of this dividend is Tuesday, May 20th. Tenaris’s dividend payout ratio is currently 34.15%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TS. Kepler Capital Markets downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Barclays set a $48.00 target price on shares of Tenaris and gave the stock an “overweight” rating in a report on Tuesday. StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a report on Monday, May 5th. Bank of America lowered Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Finally, Piper Sandler boosted their target price on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.50.

Tenaris Profile

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.